Todd Marix, first vice president with CB Richard Ellis Inc.'s Houston office, tells GlobeSt.com that seller Denver-based AIMCO, the largest single multifamily owner in the country, put the 22820 Imperial Valley property up for offers about 30 days ago in order to divest of some of its holdings.

Interest in the two-story complex was intense right from the start, Marix said. "We had 15 offers almost immediately," he said. "Houston has been one of the few markets in the country investors have gotten excited about. Compared to other markets we've held our own as far as job strength and growth are concern. Houston has really withstood the slowdown better than most and as a result we've seen an increase in investor traffic."

Marix said the seller did not set a price on the property and its selling price was undisclosed. The new owner plans to upgrade the interiors and exteriors of the 144 one-bedroom, 40 two-bedroom and eight three-bedroom units, which rent for between $429 to $729, Marix said.